NEW YORK (CBSNewYork) – Police are searching for a chain snatcher in the East Village.

Surveillance video shows the suspect walk up behind a 78-year-old man and rip two chains from his neck.

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It happened around 3:40 p.m. Monday near East Fifth Street and Avenue D.

Police said the chains were valued at $500.

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The suspect fled on foot into the grounds of the Lilian Wald Housin Development.

He’s described as black, 20 to 30 years old, 5 feet 9 inches tall, 170 pounds, with brown eyes and black hair, last seen wearing a white T-shirt, black shorts and black sneakers. He also walks with a limp.

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Anyone with information is asked to call NYPD’s Crime Stoppers hotline at 1-800-577-TIPS (8477) or 1-888-57-PISTA (74782) for Spanish. You can also submit a tip via the Crime Stoppers website, by Tweeting @NYPDTips or by texting a tip to 274637 (CRIMES) and then entering TIP577.